GOP Tax Law
Republican Tax Law Shortchanges Workers & Our Economy
Instead of working with Democrats on bipartisan, comprehensive tax reform, Republicans enacted partisan legislation that neither helps the middle class nor promotes fiscal responsibility. Their tax law provides massive tax breaks to the wealthy and big corporations while raising taxes on everyone else after the first few years. 83% of the benefits of this law go to the wealthy and corporations; only 17% goes to working families. Moreover, the GOP tax law contributes to raising the deficit by more than a trillion dollars every year for the next decade.
Republicans jammed their legislation through Congress without hearings or allowing Americans to provide input about how it shortchanges middle-class families. Now that it has been enacted, everyone can see that it hasn’t dramatically benefited the middle class or small businesses and that it’s bringing further strain to our nation’s finances, which Republicans will use to justify slashing Social Security, Medicare, and Medicaid.
Democrats will continue working to promote the principles of fair, bipartisan tax policies that benefit the middle class and don’t explode the deficit. Furthermore, as Republicans now turn to their plan to gut Social Security, Medicare, and Medicaid in order to offset the deficits their tax law created, Democrats will stand firm in defending these programs so they can benefit Americans today and in the future.
Republicans jammed their legislation through Congress without hearings or allowing Americans to provide input about how it shortchanges middle-class families. Now that it has been enacted, everyone can see that it hasn’t dramatically benefited the middle class or small businesses and that it’s bringing further strain to our nation’s finances, which Republicans will use to justify slashing Social Security, Medicare, and Medicaid.
Democrats will continue working to promote the principles of fair, bipartisan tax policies that benefit the middle class and don’t explode the deficit. Furthermore, as Republicans now turn to their plan to gut Social Security, Medicare, and Medicaid in order to offset the deficits their tax law created, Democrats will stand firm in defending these programs so they can benefit Americans today and in the future.
Related
Republicans are moving ahead with their GOP tax scam, but the American people just aren’t that into it.
Yesterday, House Republicans passed their tax scam bill through the House, voting to raise taxes on 36 million middle-class families, provide massive tax cuts to the wealthiest Americans and corporations, and add $1.5 trillion dollars to the deficit.
ICYMI, we wanted to be sure you saw this op-ed by Treasury Secretary Bob Rubin on the dangers of the GOP Tax Scam in this morning’s Washington Post. Secretary Rubin rejects Republicans’ claim that these tax cuts will pay for themselves and highlights how it will worsen the nation’s fiscal outlook.
They say this is a tax cut bill, and point of fact, it raises taxes on 36 million middle--income families, working families in this country.
House Republicans passed their GOP tax scam today, despite strong opposition.
Today, 227 Republicans voted to raise taxes on 36 million middle-class households, and to add at least $1.7 trillion to our national debt, all in order to provide massive tax breaks to the top one percent.
The new analysis released this morning by the bipartisan Congressional Joint Committee on Taxation flatly disproves claims by Republican leaders that the Republican tax bill would provide a tax cut to the average household at every income level.
It looks like some House Republicans are getting cold feet about voting for their tax bill ahead of the Senate – nervous that President Trump might turn against them and support the Senate version instead.
Senator Ron Johnson (R-WI) calls the #GOPTaxScam as he sees it and is making clear to GOP leaders that he is going to oppose the bill.